Perfect Head and Shoulder In GBPJPY_crash_again??
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thread: Perfect Head and Shoulder In GBPJPY_crash_again??

  1. #1
    Junior Member Oxyreles1's Avatar
    6

    Perfect Head and Shoulder In GBPJPY_crash_again??

    There is a ideal head shoulders in GBPJPY weekly chart as shown in figure.

    The last two times this season in daily chart we had a similer pattern and the market fell 2000 PIPS at Jan-Feb and overdue July-August period.

    And this time we're seeing the same pattern in weekly chart.

    I had posted earlier about the pattern at primary GBPJPY thread and since that time, the right shoulder is half way and 500 PIPS down.

    Is next week going to be another big crash. . .Dow is showing all signs of this today already. .

    Will coming week be among the most important times in our life. .

    There are numerous indiions of this...I just got hold of a single...

    Can you guys see more signs like this....

    Good Luck

  2. #2
    and wavez marches out a 2 hour chart to clarify the big picture....precious....
    I understand! And of an entirely different pair. .

  3. #3
    Hmm ....
    Ever Wonder where this fits into the big picture:surprised?

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  4. #4
    Ever Wonder where this fits into the big picture:amazed?
    Can't say I've. . So please elaborate, how will GBP/JPY be affected by a HS on USD/CHF?

  5. #5
    Junior Member yenier's Avatar
    1
    Everybody is looking at a 1 week chart pattern and wavez marches out a 2 hour chart to describe the big picture....precious...

  6. #6
    Come on people, be nice - dont you recall what it felt like to be picked on by bullies and laughed at school - or was that just me? Anyhow we finally have a short term reversal pattern on USD/CHF. A dollar bounce or an elongated rally doesn't negate the probility of an equities market collapse and the corresonding fall in GBP/JPY. It really fits quite well as traders transfer funds from high risk equities and carry trades into reduced risk USD backed bond markets causing the dollar to rise. Meanwhile I will go long USD/CHF. Thanks for posting the chart pattern marketwavez

  7. #7
    nicely done spiderforex for alerting us to probably the most effective chart pattern there is. Ive done nicely without capturing anything like the whole move. Still a few hundred pips left to proceed out of my original projection of 1.92 and the likelihood of the target being hit are fairly good given the current fundamentals. Thanks everyone and congratulations to anybody who took action with this pattern - It was not an easy ride down, I had a 300 pip loser caught out in one of those huge retracements but I finished way in front entire in the short prejudice last few weeks I,ll leave you with my best trade ever shot the EUR/JPY on fri and shut out today(monday) through asia for 470 PIPS

  8. #8
    Junior Member Oxyreles1's Avatar
    6
    Well, It appears the time has come again for a significant crash southwards.

    I've found its always better to trade one big wave than just scalp or 1H or 4H or even trade daily candle, weekly or monthly transaction appears to provide the largest profit.

    Easier said than done, even though it was analyzed the significant crash was coming a year ago, few people managed to trade it fully as it had been our first time, I believe that leg should be profited in the past experience we had, so im restarting the thread again and letting go of my short-term trade and taking a full brief trade.

    Its better to become a George soros one time than a day trader all the time

    I am brief GBPJPY from 149.66, I could have shorted from 158 onwards that was my actual hunch, but only decided to abondom brief time trading now and go complete.

    No stop reduction cos it does not matter, cos my whole account balence is for drama, so if one takes a transaction, know that you are placing the money to free never to win hehehe.


    My goal is 120 area in GBPJPY, so daily up and down might come but even if the PIP leap into 1000 PIPS im safe but not over 160 area.

    I believe this leg down can make us millionare or atleast around 100,000 dollar mark hehe. .

    Its not baseless, I'd used the exact same technique that were used to predict the huge collapse this past year. And im late by about 1000 PIPS cos of me trading intraday.

    But we can make around 3000 PIPS by this year end.

    Be ware, trading and reading is like sun and the moon, it might sound simple but trading long term is equally difficult, you have to let go of your account and maintain a vaion mood all of the time.

    Just attempt to construct a pyramid more and more if the leg go down and close in on the profit, divide the lots etc, but do not close the account too soon.

    Lets hope we discuss further our adventure in this fantastic ride downwards...

    Good Luck.

    M.A.C.Doug, where are you friend, Whats your take on the brief from now onwards in GJ.

  9. #9
    Junior Member Verokicadayzn's Avatar
    9
    come on folks, be fine - dont you remember what it felt like to be picked on by bullies and laughed at school - or was that just me? Anyway we finally have a short-term reversal pattern on USD/CHF. A dollar bounce or an elongated rally does not negate the probility of an equities market meltdown and the corresonding fall in GBP/JPY. It really fits quite well as traders move capital from high risk stocks and carry trades into low risk USD backed bond markets causing the dollar to rise. Meanwhile I am going to go long USD/CHF. Thank you for posting...
    for FX, too premature to say

    if dow crash into 6k, fed will print more usd as stimuli, so why holding usd to wait for devalue?

    Risk aversion should go to gold, but gold is not up yet.

    Technically ideal pattern, no doubt.

  10. #10
    Junior Member Oxyreles1's Avatar
    6
    for FX, too early to state

    when dow crash into 6k, fed will publish more usd as stimuli, so why holding usd to wait for devalue?

    Risk aversion needs to go to gold, but gold isn't up yet.

    Technically perfect pattern, undoubtedly.
    Yep. . .Gold can be nicely hooking up with reverse shoulder and head and possibly burst itself up to 2000 level by the year end.


    I am just waiting for the August mid to go long on Gold..which ought to be a good base to trade gold.

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